Many other areas around the country are experiencing strong seller’s markets. Our local market is still a buyer’s market. But whether our market is “hot” or “cool,” be aware of the following pitfalls that always lead to a languishing listing.
Price: Even in strong markets, a home that is priced too high is a home that will take too long to sell. Listings generate the highest amount of interest when they’re brand new on the market. Lowering your price later still won’t attract as many buyers as you would have had by just pricing it right from the beginning. The longer a home sits on the market, the less money the seller will realize from the sale.
Location: Hot markets encourage people to give more consideration to homes in less desirable locations, or to tolerate noisy highways or high traffic streets. In cooler markets, however, you really can’t do much about such a location. In this case, it’s simply wise not to over improve your home. Make sure your home still offers the best value against comparable homes in the neighborhood. Buyers will pay a bit more for a home on a quiet cul-de-sac than they will for one with such high traffic volume that you can’t get out of your driveway.
Appeal: The biggest challenge is getting buyers into your home for a closer look. Invite them in with subtle decorations, sparkling windows and a beautifully painted front door with a cheery wreath. If your home’s best features are inside or out back, use a virtual tour to promote it on the internet.
Regardless of current market conditions, there are steps you can take to give your home an advantage over the competition.
Kathy Henne is a RE/MAX realtor, she can be reached at (937) 778-3961 or visit www.KathyHenneTeam.com for more information.